ANABUKI KOSAN INC.

Business Details

Centered on the new-build condominium-for-sale business under the "Alpha" series, the segment also operates the Used Condominium Purchase & Resale Business, real estate brokerage, real estate leasing, detached housing for sale/custom-built homes, architectural design, and other businesses. For the Tokyo metropolitan area, the segment also handles new-build whole-building income apartments under the "Glorio" series. In addition to the Shikoku, Chugoku, Kinki, Kyushu, and other domestic areas, the segment is also expanding overseas into Southeast Asia, the United States, and elsewhere. Net sales for the cumulative nine months of Q3 FY2026 (ending June 2026) were ¥85,044 million, with operating profit of ¥6,650 million.

Recent Overview

Higher delivery volumes and building counts drove net sales up 22.6% and operating profit up 41.4%, marking substantial growth in both revenue and profit.

During the cumulative nine months of Q3 FY2026 (July 2025 to March 2026), an increase in completed and delivered condominiums compared to the prior year expanded units sold to 1,381 units (up 6.4% year on year). Deliveries of Glorio Series whole-building income apartments also increased to 11 buildings (compared to 8 buildings in the same period of the prior year). As a result, net sales reached ¥85,044 million (up 22.6% year on year) and operating profit reached ¥6,650 million (up 41.4% year on year). Of the 1,798 units planned to be sold for the full year, only 50 units remained uncontracted as of the end of Q3, indicating continued firmness. On the other hand, contracted units remained at 1,170 units (down 1.3% year on year) due to a decrease in the number of condominiums available for sale compared to the prior year.

Key Products

Growth Drivers

• Sales-boosting effect from the increase in the number of "Glorio" series whole-building income apartments delivered (11 buildings cumulative through Q3, up 3 buildings year on year)
• Expansion in units sold due to an increase in completed and delivered condominiums (1,381 units, up 6.4% year on year)
• High revenue visibility, with only 50 units uncontracted out of the 1,798 units planned to be sold for the full year
• Continued robust demand for investment real estate from domestic and overseas investors (against a backdrop of inbound demand and rising rents)
• Improved customer convenience and sales efficiency from online sales (hybrid sales method) launched in spring 2025
• Revenue diversification through the expansion and strengthening of the Used Condominium Purchase & Resale Business and the real estate brokerage business
• Expansion of the business portfolio through investment in new businesses such as the Cemetery Business, renewable energy, logistics facility development, and resort development

Risks

• Impact on customers' purchasing decisions from the persistently high level of condominium-for-sale prices and observations of rising mortgage interest rates
• Continued upward pressure on construction costs due to soaring construction material prices and labor costs
• Risk of delivery timing delays due to supply chain constraints and construction delay risk
• Impact on future sales from the year-on-year decline in contracted units (1,170 units, down 1.3% year on year) associated with a decrease in the number of condominiums available for sale
• Rising procurement costs and increasing difficulty securing suitable sites due to intensifying competition for land acquisition
• Geopolitical risk and local market uncertainty in overseas operations (Southeast Asia and the United States)